1. Agreement and service availability
By creating an account, connecting a brokerage account, starting a subscription, or using Runda, you agree to these terms. If you do not agree, do not use the service.Runda offers a free Paper mode. Live execution may be offered to eligible users as a paid monthly service. Live is available only when it is shown as enabled in your account and you separately activate it.Paper trading is simulated and uses no real money. Live trading uses real money. Paper fills, availability, and results may differ materially from live markets and do not predict future performance.2. Eligibility and self-directed use
You must be at least 18 years old, legally able to enter a binding agreement, and permitted to use the service where you live. Live access also requires an eligible Alpaca brokerage account and the approvals Alpaca requires for options trading.You are solely responsible for every investment decision and every strategy parameter you enter or approve. Runda does not recommend securities, select contracts, provide trading signals, manage an account, or act as an investment adviser, broker, fiduciary, lawyer, or tax adviser.The product is intended for experienced, self-directed users who understand options and can author their own standing instructions.3. Exact approval and automation
The product may validate, version, monitor, and execute the exact instructions you author and explicitly approve for the selected environment. You must review unresolved fields and the complete approved version before activation.Live requires separate eligibility, explicit activation, and approval of the exact instructions for the Live environment. A Paper connection or approval never authorizes Live execution.Pause stops new policy actions. Emergency stop may request cancellation of eligible open orders in the active environment. Neither control promises liquidation, a fill, a cancellation, or an immediate broker outcome. An unclear outcome is shown as Blocked until reconciled.4. Alpaca and other services
Your brokerage relationship and account remain with Alpaca. Connecting Runda does not replace your Alpaca agreements, options approval, disclosures, or responsibility to monitor your account. Runda is an independent application and is not developed or endorsed by Alpaca.Alpaca and other service providers operate under their own terms and privacy practices. Runda cannot guarantee their availability, market data, order routing, fills, cancellations, assignments, exercises, or responses.5. Options risk
Options involve substantial risk and are not suitable for every investor. Assignment, exercise, liquidity, pricing, market gaps, outages, and tax treatment can produce outcomes that differ from a replay or Paper simulation. You are responsible for understanding the risks and obligations of every instruction you create.Before trading options, review the current Characteristics and Risks of Standardized Options and the disclosures and agreements provided by Alpaca.6. Subscription and billing
Paper access is free. A Live subscription begins only after you affirmatively purchase it. The checkout will show the price, taxes, trial terms, and any refund rights before purchase.Unless checkout states otherwise, Live subscriptions renew monthly until canceled. Cancellation takes effect at the end of the current paid period. Canceling the subscription does not close positions, cancel broker orders, disconnect Alpaca, or liquidate an account.7. Acceptable use
- Use only an account you are authorized to access.
- Do not share credentials, attempt to bypass Paper-only controls, probe another tenant, or interfere with service safety.
- Do not use the product where its use would violate law, broker terms, or contractual duties.